Business Franchising

Here is how business franchising works. The franchisor develops a concept, works out the business aspects of it, tests it by developing a location or two, refines it, and then packages it so it can be adopted relatively easily by other people with less experience, less time for development, but sufficient money to pay the franchisor for his idea.

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In other words, franchising is one of several ways to get into business without recreating the wheel each time. Take for instance, KFC or Burger King or Wendy's or even something like Home Depot. Most of these are franchises in the sense that they are business ideas that have duplicated in various locations. The original business idea has been duplicated using a cookie cutter approach.

The franchisee or business franchise operator pays the franchisor for the entire package. This usually includes a complete physical business layout, accounting system, marketing system, product identity, and so on. This allows the franchisee to build a viable company without having to start from scratch. The franchisee uses corporate advertising, corporate production methods, franchise marketing techniques, and so on. Everything in a franchise is more or less the same from one franchise within a specific organization to another.

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